VERPA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
VERPA
NACE 01.280, Crop and animal production, hunting and related service activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€683,397
2024 · €952,570-€269,172
Equity
€5.7m
2024 · €6.4m-€757,785
Cash
€1.7m
2024 · €44,673+€1.7m
Balance sheet total
€11.9m
2024 · €13.1m-€1.2m
Largest movements
Assets
- Current investments -€2.2m
down €2.2m (-100.0%), from €2.2m to €0
- Cash +€1.7m
up €1.7m (+3729.3%), from €44,673 to €1.7m
mainly Current investments (+€2.2m) and Other debts (+€1.2m)
- Receivables within one year -€647,662
down €647,662 (-32.2%), from €2.0m to €1.4m
of which Trade receivables: -€753,244
- Tangible fixed assets -€351,373
down €351,373 (-4.4%), from €7.9m to €7.6m
of which Land and buildings: -€288,081
- Receivables after one year +€318,673
up €318,673 (+64.0%), from €497,906 to €816,579
Equity and liabilities
- Other debts +€1.2m
up €1.2m (+748.0%), from €166,584 to €1.4m
- Debts after one year -€858,857
down €858,857 (-20.4%), from €4.2m to €3.4m
- Reserves -€729,285
down €729,285 (-13.2%), from €5.5m to €4.8m
- Short-term financial debts -€350,000
down €350,000 (-100.0%), from €350,000 to €0
- Trade debts -€326,366
down €326,366 (-39.5%), from €826,004 to €499,638
Income statement
- Gross operating margin -€538,406
down €538,406 (-15.2%), from €3.5m to €3.0m
- Taxes -€249,483
down €249,483 (-58.5%), from €426,695 to €177,212
- Depreciation -€115,284
down €115,284 (-9.3%), from €1.2m to €1.1m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€952,570
Gross operating margin
-€538,406
Staff costs
-€13,131
Depreciation
+€115,284
Other operating charges
+€5,710
Other operating items
-€38,653
Financial income
-€22,718
Financial charges
-€26,742
Taxes
+€249,483
Result 2025
€683,397
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€2.9m
Investment
+€1.4m
Financing
-€2.7m
Cash 2024
€44,673
From operations (derived)
+€2.9m
Net result for the year
+€683,397
Depreciation
+€1.1m
Receivables after one year
-€318,673
Smaller working-capital items
-€11,451
Receivables within one year
+€647,662
Trade debts
-€326,366
Tax, wage and social debts
-€155,996
Other debts
+€1.2m
Investment (derived)
+€1.4m
Investment in fixed assets (net)
-€776,668
Current investments
+€2.2m
Financing
-€2.7m
Debts after one year
-€858,857
Short-term financial debts
-€350,000
Contributions, distributions and other
-€1.4m
Cash 2025
€1.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €13,114,925 | €11,904,578 | -€1.2m | -9.2% |
| Fixed assets | 21/28 | €7,905,881 | €7,554,509 | -€351,373 | -4.4% |
| Tangible fixed assets | 22/27 | €7,905,881 | €7,554,509 | -€351,373 | -4.4% |
| Land and buildings | 22 | €4,098,125 | €3,810,044 | -€288,081 | -7.0% |
| Plant, machinery and equipment | 23 | €3,704,508 | €3,721,244 | +€16,736 | +0.5% |
| Furniture and vehicles | 24 | €39,947 | €23,220 | -€16,726 | -41.9% |
| Assets under construction and advance payments | 27 | €63,301 | €0 | -€63,301 | -100.0% |
| Current assets | 29/58 | €5,209,043 | €4,350,069 | -€858,975 | -16.5% |
| Amounts receivable after more than one year | 29 | €497,906 | €816,579 | +€318,673 | +64.0% |
| Other amounts receivable | 291 | €497,906 | €816,579 | +€318,673 | +64.0% |
| Stocks and contracts in progress | 3 | €425,150 | €427,470 | +€2,320 | +0.5% |
| Stocks | 30/36 | €425,150 | €427,470 | +€2,320 | +0.5% |
| Amounts receivable within one year | 40/41 | €2,009,917 | €1,362,254 | -€647,662 | -32.2% |
| Trade receivables | 40 | €2,009,917 | €1,256,672 | -€753,244 | -37.5% |
| Other amounts receivable | 41 | €0 | €105,582 | +€105,582 | |
| Current investments | 50/53 | €2,200,000 | €0 | -€2.2m | -100.0% |
| Cash at bank and in hand | 54/58 | €44,673 | €1,710,678 | +€1.7m | +3729.3% |
| Deferred charges and accrued income | 490/1 | €31,398 | €33,088 | +€1,690 | +5.4% |
| Total equity and liabilities | 10/49 | €13,114,925 | €11,904,578 | -€1.2m | -9.2% |
| Equity | 10/15 | €6,434,588 | €5,676,802 | -€757,785 | -11.8% |
| Contributions | 10/11 | €745,000 | €745,000 | = | 0.0% |
| Reserves | 13 | €5,518,588 | €4,789,302 | -€729,285 | -13.2% |
| Distributable reserves | 133 | €5,518,588 | €4,789,302 | -€729,285 | -13.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €171,000 | €142,500 | -€28,500 | -16.7% |
| Provisions and deferred taxes | 16 | €9,000 | €7,500 | -€1,500 | -16.7% |
| Deferred taxes | 168 | €9,000 | €7,500 | -€1,500 | -16.7% |
| Amounts payable | 17/49 | €6,671,337 | €6,220,275 | -€451,062 | -6.8% |
| Amounts payable after more than one year | 17 | €4,213,595 | €3,354,738 | -€858,857 | -20.4% |
| Financial debts | 170/4 | €4,213,595 | €3,354,738 | -€858,857 | -20.4% |
| Amounts payable within one year | 42/48 | €2,452,427 | €2,862,179 | +€409,752 | +16.7% |
| Current portion of amounts payable after more than one year | 42 | €858,857 | €858,857 | = | 0.0% |
| Financial debts | 43 | €350,000 | €0 | -€350,000 | -100.0% |
| Credit institutions | 430/8 | €350,000 | €0 | -€350,000 | -100.0% |
| Trade debts | 44 | €826,004 | €499,638 | -€326,366 | -39.5% |
| Suppliers | 440/4 | €826,004 | €499,638 | -€326,366 | -39.5% |
| Advances received on contracts in progress | 46 | €3,984 | €0 | -€3,984 | -100.0% |
| Taxes, remuneration and social security | 45 | €246,998 | €91,002 | -€155,996 | -63.2% |
| Taxes | 450/3 | €189,003 | €4,061 | -€184,942 | -97.9% |
| Remuneration and social security | 454/9 | €57,995 | €86,941 | +€28,946 | +49.9% |
| Other amounts payable | 47/48 | €166,584 | €1,412,682 | +€1.2m | +748.0% |
| Accrued charges and deferred income | 492/3 | €5,315 | €3,358 | -€1,957 | -36.8% |
| Remuneration, social security and pensions | 62 | €849,371 | €862,502 | +€13,131 | +1.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,243,325 | €1,128,041 | -€115,284 | -9.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €39,331 | €33,622 | -€5,710 | -14.5% |
| Non-recurring operating charges | 66A | - | €38,653 | +€38,653 | |
| Gross operating margin | 9900 | €3,535,799 | €2,997,394 | -€538,406 | -15.2% |
| Operating profit (loss) | 9901 | €1,403,772 | €934,577 | -€469,195 | -33.4% |
| Financial income | 75/76B | €84,257 | €61,539 | -€22,718 | -27.0% |
| Recurring financial income | 75 | €84,257 | €61,539 | -€22,718 | -27.0% |
| Financial charges | 65/66B | €110,264 | €137,007 | +€26,742 | +24.3% |
| Recurring financial charges | 65 | €110,264 | €137,007 | +€26,742 | +24.3% |
| Profit (loss) for the period before taxes | 9903 | €1,377,765 | €859,109 | -€518,656 | -37.6% |
| Transfer from deferred taxes | 780 | €1,500 | €1,500 | = | 0.0% |
| Income taxes | 67/77 | €426,695 | €177,212 | -€249,483 | -58.5% |
| Profit (loss) for the period | 9904 | €952,570 | €683,397 | -€269,172 | -28.3% |
| Profit (loss) for the period to be appropriated | 9905 | €952,570 | €683,397 | -€269,172 | -28.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.